Turtle Creek Asset Management Inc. Has $102.44 Million Stake in WEX Inc. $WEX

Turtle Creek Asset Management Inc. lifted its stake in WEX Inc. (NYSE:WEX) by 58.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 669,335 shares of the business services provider’s stock after purchasing an additional 246,923 shares during the quarter. WEX accounts for 3.8% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its 14th largest position. Turtle Creek Asset Management Inc.’s holdings in WEX were worth $102,435,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in WEX during the fourth quarter valued at approximately $25,000. First Horizon Corp lifted its position in WEX by 65.7% in the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after buying an additional 94 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock worth $35,000 after buying an additional 173 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of WEX by 255.0% during the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after buying an additional 255 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of WEX by 225.4% during the 4th quarter. IFP Advisors Inc now owns 371 shares of the business services provider’s stock valued at $55,000 after buying an additional 257 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James R. Groch acquired 1,500 shares of the stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $142.95 per share, with a total value of $214,425.00. Following the acquisition, the director owned 17,957 shares in the company, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert Joseph Deshaies sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the transaction, the chief operating officer directly owned 20,288 shares in the company, valued at $3,010,739.20. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,783 shares of company stock worth $1,277,935. Insiders own 1.40% of the company’s stock.

WEX Stock Up 3.0%

WEX stock opened at $188.38 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $191.38. The company has a fifty day simple moving average of $148.86 and a 200 day simple moving average of $153.36. The firm has a market cap of $6.42 billion, a PE ratio of 18.76, a PEG ratio of 1.02 and a beta of 0.85.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $5.08 by $0.27. WEX had a net margin of 12.56% and a return on equity of 43.19%. The firm had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. During the same period in the prior year, the business posted $3.95 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Sell-side analysts anticipate that WEX Inc. will post 17.09 EPS for the current fiscal year.

WEX announced that its board has authorized a stock repurchase plan on Thursday, May 14th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on WEX. Weiss Ratings downgraded shares of WEX from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Wall Street Zen cut WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Evercore upgraded WEX to an “outperform” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald set a $178.00 target price on WEX in a research report on Monday. Finally, Morgan Stanley raised their price target on WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus price target of $183.30.

Key WEX News

Here are the key news stories impacting WEX this week:

• Positive Sentiment: AI product launch strengthens commercial-fleet offering. WEX introduced SecureFuel, an AI-powered capability that uses fleet-card transaction data, real-time vehicle information and predictive models to identify and block potentially unauthorized fuel purchases before approval. The product could improve customer value, reduce fraud losses and support future revenue growth. WEX Introduces SecureFuel AI-Powered Fraud Prevention for Commercial Fleets
• Positive Sentiment: Recent operating performance exceeded expectations. WEX reported second-quarter revenue of $753.5 million, up 14.2% year over year, and adjusted earnings of $5.35 per share versus the $5.08 consensus estimate. The company also provided third-quarter earnings guidance of $5.45 to $5.65 per share and full-year guidance of $19.68 to $20.08, reinforcing the case for continued earnings growth.
• Neutral Sentiment: Analyst view remains above the current trading level but is mixed. Mizuho reportedly lowered its WEX price target to $215 while maintaining its outlook. That target remains above the stock’s recent level, but the reduction indicates some caution about near-term valuation or growth assumptions. Mizuho cuts WEX stock price target to $215, maintains outlook
• Neutral Sentiment: Management is scheduled to meet investors. CFO Jagtar Narula will participate in Bank of America’s SMID Cap Executive Insights Event on August 11. The presentation could provide additional commentary on demand, SecureFuel adoption and 2026 guidance, but it is not an immediate financial catalyst. WEX to Participate in the Bank of America 2026 SMID Cap Executive Insights Event
• Negative Sentiment: Several insiders sold shares. Chief Risk and Compliance Officer Ann Elena Drew sold 3,400 shares worth approximately $598,468, while Chief Accounting Officer Jennifer Kimball sold 1,183 shares worth about $208,859. Recent activity shows 24 insider sales versus one purchase over six months, which could raise concerns about insider confidence, although such transactions may also reflect personal financial planning.

WEX Profile

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.